Covea Finance Cuts Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Key Points

• Covea Finance reduced its stake in Thermo Fisher Scientific Inc. by 1.9%, owning 101,154 shares after selling 1,960 shares in the second quarter, making it the 22nd largest position in their portfolio.
• Several analysts have issued mixed ratings on TMO, with target prices ranging from $480.00 to $590.00, and a general average rating of "Moderate Buy."
• Thermo Fisher Scientific announced a quarterly dividend of $0.43, set to be paid on October 15th, representing an annualized yield of 0.4%.

Covea Finance lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,154 shares of the medical research company's stock after selling 1,960 shares during the quarter. Thermo Fisher Scientific accounts for about 1.5% of Covea Finance's portfolio, making the stock its 22nd largest position. Covea Finance's holdings in Thermo Fisher Scientific were worth $41,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of TMO. Bernard Wealth Management Corp. acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Thermo Fisher Scientific by 137.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company's stock worth $28,000 after buying an additional 33 shares during the period. Ameriflex Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $30,000. Anderson Financial Strategies LLC purchased a new position in Thermo Fisher Scientific in the first quarter valued at about $30,000. Finally, Keystone Global Partners LLC purchased a new position in Thermo Fisher Scientific in the first quarter valued at about $31,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TMO. Royal Bank Of Canada set a $561.00 price objective on shares of Thermo Fisher Scientific and gave the stock an "outperform" rating in a research note on Tuesday, September 2nd. Scotiabank raised shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price for the company in a research note on Friday, July 11th. Evercore ISI lowered their target price on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Barclays raised shares of Thermo Fisher Scientific from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $490.00 to $550.00 in a research note on Thursday, September 11th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $535.00 target price (up from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of "Moderate Buy" and an average target price of $588.35.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the sale, the executive vice president owned 22,367 shares of the company's stock, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 400 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $500.50, for a total transaction of $200,200.00. Following the completion of the sale, the chief executive officer directly owned 113,762 shares of the company's stock, valued at $56,937,881. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,066 shares of company stock valued at $14,182,963. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $474.54 on Tuesday. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $623.77. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $179.19 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 2.56 and a beta of 0.75. The firm's fifty day simple moving average is $472.99 and its 200 day simple moving average is $448.55.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, topping analysts' consensus estimates of $5.22 by $0.14. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The firm had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter in the previous year, the business posted $5.37 EPS. The firm's revenue was up 2.9% compared to the same quarter last year. Thermo Fisher Scientific has set its Q3 2025 guidance at 5.460-5.510 EPS. FY 2025 guidance at 22.220-22.840 EPS. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific's payout ratio is presently 9.95%.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.